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SPY gamma map: estimated gamma by strike, latest closed session

Estimated, not observed · Nov 4, 2026 session · calculated at 3:55 PM ET · Open interest as of Nov 2, 2026 (two sessions earlier)
Estimated dealer gamma by strike
Largest estimated concentration near the 750 strike (negative gamma).
GAMMA FLIP
769.29
CALL WALL
770
PUT WALL
750
EXPECTED MOVE · NOV 5
±0.62%
Put wall
Gamma flip
Call wall
745
750
755
760
765
770
775
780
785
Positive estimated gamma
Negative estimated gamma
Expected move for Nov 5: ±0.62% (size, not direction)
Bars show the shape of estimated dealer gamma by strike at the last cycle of the session, scaled to the largest bar. No dollar values are shown. Expected move for Nov 5: ±0.62%, fixed at the Nov 4 close from at-the-money implied volatility · size, not direction. Open interest is OCC data that reaches us two trading sessions after the session it describes. Source: TradeAI News estimate from stored options-chain snapshots (0–45 DTE) and OCC open interest. Gamma is computed by us, not supplied by a vendor.

How to read it

  1. Each bar is one SPY strike at the last cycle of the latest closed session: blue bars carry estimated positive dealer gamma, orange bars negative, and longer bars a larger share of the total.
  2. The gamma flip is the level where the estimated net changes sign, and the call and put walls are the strikes with the largest estimated call and put gamma.
  3. The expected move is the size the options market priced for the next session, fixed at the close; it describes size, not direction, and none of this is a forecast.
Every cycle of the session behind the price bars, with the walls, the flip, the expected-move band and price indicators. Sign up with Google; the panel opens on the Heatmap.
Open the full Gamma Heatmap (1m–1h, indicators) →

The map changes once a day: after the close it shows the session’s last cycle, and during the session it keeps showing the previous one. It never shows the session in progress. For the method behind the numbers, see the methodology on the gamma exposure page.

Gamma exposure: how it is calculatedWhat the gamma flip is (guide)Why we don’t predict direction

Not financial advice. Trading involves risk. TradeAI News provides structural market context, not directional recommendations.